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Construction Cost Index for buildings, August 2018

Construction costs rose by 3.8 percent in August on an annual basis

Statistical news from Statistics Sweden 2018-09-17 9.30

The Construction Cost Index for multi-dwelling buildings increased by 0.3 percent between July and August 2018. On an annual basis, construction costs rose by 3.8 percent.

Developments between July and August 2018

The Construction Cost Index for multi-dwelling buildings increased by 0.3 percent between July and August 2018. In the corresponding period in 2017, the Index increased by 0.1 percent. Contractors’ costs, which account for more than 82 percent of the Construction Cost Index, increased by 0.3 percent between July and August 2018.

Building material costs rose by 0.7 percent. In the group ‘building materials’, the cost of wood products rose most. Costs in other building material groups also rose, with the exception of the cost of white goods, which decreased.

Machinery costs increased by 0.4 percent. Costs in the group ‘transport, fuel and electricity’ increased by 0.3 percent, of which the cost of diesel oil rose by 1.3 percent. Contractors’ other costs also increased, while costs of wages and salaries remained unchanged.

Investor costs decreased by 0.1 percent between July and August 2018.

Developments between August 2017 and August 2018

The Construction Cost Index for multi-dwelling buildings increased by 3.8 percent between August 2017 and August 2018. Contractors’ costs also rose by 3.8 percent. The increased contractors’ costs led to an increase of 3.2 percentage points for the total index in the same period.

The group ‘transport, fuel and electricity’ increased most, 6.5 percent, among contractors’ costs. Within that group, the cost of diesel oil increased by 19.5 percent. Building material costs, contractors’ other costs, machinery costs, wages, and salaries also increased.

Building material costs increased by 5.4 percent. Iron and steel, including reinforcement steel, and wood products accounted for the largest price increase in the building materials group, 10.3 percent and 9.0 percent, respectively. Costs in other building material groups also rose.

Investor costs increased by 3.5 percent on an annual basis.

The development for different production factors, August 2017–August 2018

Construction Cost Index for multi-dwelling buildings, excl. wage drift and value-added tax

Chart: The development for different production factors, August 2017–August 2018

The width of the bars represents the production factor’s weight share in percent in the calculation of the Construction Cost Index for multi-dwelling buildings. The height of the bars represents the average price development for each production factor.

Changes by product type, August 2018
GoodsChange in percent
 August 2017–
August 2016
August 2018–
August 2017
Reinforcement steel
+5.8 +17.1
Iron and steel*
+5.0 +10.3
Wood products
+3.8 +9.0
Material for painting
+0.2 +8.4
Other building materials**
+2.2 +7.2
Concrete products
+2.7 +5.5
Plumbing material
+3.1 +4.6
Electric material
+4.1 +3.3
Woodwork
+2.6 +3.2
White goods
+1.4 +1.9
Floor material
+0.3 +1.3
Total building materials
+3.1 +5.4

* Includes reinforcement steel. ** Includes materials for thermal insulation, garbage equipment, gypsum and wood-based boards.

Developments in various production factors, August 2017–August 2018

Construction Cost Index for multi-dwelling buildings, excl. wage drift and value-added tax

Chart: Developments in various production factors, August 2017–August 2018

The width of the bars represents the construction material group’s weight share in percent of all construction material in the calculation of the Construction Cost Index for multi-dwelling buildings. The height of the bars represents the average price development for each product category.

Next publishing will be

2018-10-15 at 9:30.

 

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